Re: I'm rich!

Thu Dec 13, 2012 8:20 am

Don McCombs wrote:Don't forget that you have already paid a premium for Medicare for most, if not all, of your working career. It may not be as cheap as you think.

That’s true and at this time I have no idea what that was. When I get back home if there is a way to get that information I like to have it. Mainly because I have very close friends on opposite sides of government entitlement issues and during friendly arguments’ they have…. I like to know what facts are correct.

These are the facts I do know: I’m staying at friends place the runs a business which employees 127 people. The only health care he can afford to offer his employees is $5000 deductible at $735 per month per family no dental or eye care. He pays the $735 per month for each employee and the employee pays the first $5000 deductible than after that no cost out of pocket.

I’m here to assist my friend the owner of the business because he has had major surgery. The total cost of the event was $92,875 minus $5000 he will pay. The insurance company contracted amount payment to the hospital was 25% of $92,875 and the hospital wrote the rest off. As we were going through the medical bills I contacted the insurance company with some questions and I asked joking if my friend could only pay 25% of the $5000 and they write the rest off….needless to say that didn’t go too far. The insurance company did say if the policy holder could not cover the deductible, payments could be arranged. (That sounds reasonable to me)

Mr.McCombs, hopefully an answer to your question… I’m in a home office where the payroll and checks are starting to be made for Friday. I asked your question and the accountant turn the screen towards me for the employee she was working on and as of YTD Medicare is $805.96.This employee has been here for 26.9 years.

Time for me to get off this PC…it has to be used for tracking a weather system.

Last edited by JackF on Thu Dec 13, 2012 3:14 pm, edited 1 time in total.

Re: I'm rich!

Thu Dec 13, 2012 8:32 am

$18.00 but yes both part B went up and I have Part D taken out and that went up but before complaining too much try buying health insurance. Jeanne is not old enough for medicare. Want to talk expensive? Vern

Re: I'm rich!

Thu Dec 13, 2012 11:50 am

Let's see, for medical s/s takes $208 for my wife and me, $154 out of my retirement check from my past employer to stay on their plan, $120 for dental. That's $482 a month or $5,784 a year. And with Obama care it will more than likely cost me more.

Re: I'm rich!

Thu Dec 13, 2012 12:07 pm

JackF wrote:These are the facts I do know: I’m staying at friends place the runs a business which employees 127 people. The only health care he can afford to offer his employees is $5000 deductible at $735 per month per family no dental or eye care. He pays the $735 per month for each employee and the employee pays the first $5000 deductible than after that no cost out of pocket.

That's a good plan, these days. Even big companies have gone to high deductible plans. I have the 5K deductible plus 10% after so I can be whacked for 7 k per year in total. The plan costs $20,000 per year with my contribution! We only have a few people on the plan so we get raked over the coals plus my age. No wonder you can't get a job when you are older. A friend of mine just moved with his company to keep his job. At 57, good engineering jobs don't grow on trees.

Re: I'm rich!

Thu Dec 13, 2012 12:17 pm

It is a nutty system that we inherited that employers provide health insurance. It was the result of wage freezes in WWII so defense plants would not try to steal workers from each other and drive up costs. benefits didn't count so medical plans were offered to induce the scarce factory workers to jump ship. It just stuck even though it makes no sense.

Re: I'm rich!

Thu Dec 13, 2012 12:45 pm

JackF wrote:One last thing that gets to me a little and if this offends anyone please feel free to delete. My son was very fortunate to get a job with the U.S. Government and works for his employer very hard just like any other U.S. Government employee does. Every day he proclaims he’s blessed to do what he went to school for and works with some of the unsurpassed- skilled people on earth. One of his benefits is medical care with no cost to him or his family anywhere in the world even when he retires. What upsets me is; is this competitive with other non government work place(s) in general and who pays for this? To say in all fairness this benefit has been reduced from the past. (Three years ago) It did include all of his spouses which would have been his brother’s, his mother and me.

I am curious as to what part of the government he works for. Nearly all federal employees (other than the military) are covered by Federal Employees Health Benefits (FEHB) Program. It is a pick your plan program similar to a lot of large companies. The government contributes something in the 65 to 75% range of the premium (75% limit on any specific choice) with the insured paying the balance. Coverage is limited to the insured, spouse, and unmarried dependent children under age 22. I assume the age 22 limit will change under Obamacare.

Historically, many government jobs offered some advantages over the private sector in terms of benefits and job security. In exchange, they typically offered lower wages. These days, I doubt that any generalization like that can be made. Some of the higher level management positions in government seem to pay big bucks, but probably not if compared to upper management of big companies.

Re: I'm rich!

Thu Dec 13, 2012 12:56 pm

Jim Becker wrote:

JackF wrote:One last thing that gets to me a little and if this offends anyone please feel free to delete. My son was very fortunate to get a job with the U.S. Government and works for his employer very hard just like any other U.S. Government employee does. Every day he proclaims he’s blessed to do what he went to school for and works with some of the unsurpassed- skilled people on earth. One of his benefits is medical care with no cost to him or his family anywhere in the world even when he retires. What upsets me is; is this competitive with other non government work place(s) in general and who pays for this? To say in all fairness this benefit has been reduced from the past. (Three years ago) It did include all of his spouses which would have been his brother’s, his mother and me.

I am curious as to what part of the government he works for. Nearly all federal employees (other than the military) are covered by Federal Employees Health Benefits (FEHB) Program. It is a pick your plan program similar to a lot of large companies. The government contributes something in the 65 to 75% range of the premium (75% limit on any specific choice) with the insured paying the balance. Coverage is limited to the insured, spouse, and unmarried dependent children under age 22. I assume the age 22 limit will change under Obamacare.

Historically, many government jobs offered some advantages over the private sector in terms of benefits and job security. In exchange, they typically offered lower wages. These days, I doubt that any generalization like that can be made. Some of the higher level management positions in government seem to pay big bucks, but probably not if compared to upper management of big companies.

Jim pretty much covered it as far as government insurance goes. I just retired after almost 27 years federal government service and my wife retired last year after 42 years federal service. My daughter works for NIOSH, another federal agency. We are all covered under FEHB and none of us have ever heard of a 100% covered government plan. I too would be interested to know what agency he works for.

Re: I'm rich!

Thu Dec 13, 2012 1:40 pm

I'm covered under 3 different US Gov sponsored health programs; Tricare for life (military retiree), Veterans Administration (for disability), and Medicare parts A and B (SSAN recipient). None of the programs are "FREE", as in no out of pocket expenses. I still have to pay a monthly premium for Medicare part B, deductibles, co-pay, and other out of pocket expenses not covered or paid for by the plans.

It's been 20 plus years since I retired from the military. While I was on active duty my medical care was taken care of by military physicians or civilian contract physicians at no cost to me, if immediately available. However, depending on location and available medical facilities, dependents health care fell under CHAMPUS/Tricare and incurred a cost to me.

Re: I'm rich!

Thu Dec 13, 2012 3:10 pm

Before I wrote this thread I should have known if anyone wanted any details I couldn’t give the details because of the position he holds. I guess I had diarrhea of the fingers with nothing else to do this morning. I do know what he told me is true unless for some reason I misunderstood him. I can tell you who he works for is an independent US Government agency and what information I know about his medical benefits’ is covered by the Federal Employees Health Benefits Plans (FEHBP). Maybe the benefit was something that was negotiated to acquire high demand employees now and before?.

My apology for writing something I can’t back up. I will delete paragraph five of the post to stop any more disputes.

bob in CT wrote: No wonder you can't get a job when you are older. A friend of mine just moved with his company to keep his job. At 57, good engineering jobs don't grow on trees.

I’m with you on that sir…no one understands that until you go through it….try it at 63…. But as I was told when it happened to me “you’re not promised a rose garden….”

….It’s a great life if you don’t weaken….

Re: I'm rich!

Thu Dec 13, 2012 10:26 pm

Changing things a little, The gov. takes out 100 dollars for a bill that's only $99.90. Next year they will take out $105.00 for the $104.90 payment. Who the heck gets all those dimes?

Bob, it's not a jolt, it's a strong hint!

Re: I'm rich!

Sun Dec 16, 2012 12:45 pm

Thank God i have a good 401k to rely on. We get a raise with the S/S and medicare takes some of it. The last time S/S gave us no increase I called my investor(401k) and gave myself a raise. As long as i have enough $$ to play with my tractors i'm happy.

Re: I'm rich!

Sun Dec 16, 2012 4:21 pm

Letter came yesterday, if my math is correct, I'm $14.00 a month ahead of last year.